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Technology, Skill, and the Wage Structure

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  • Nancy L. Stokey

Abstract

Technical change, even if it is limited in scope, can have effects that ripple throughout the economy. Here a flexible and tractable framework, with heterogeneous workers and technologies and many tasks, is used to analyze the general equilibrium effects of technical change for a limited set of tasks. The equilibria feature positively assortative matching between workers and technologies. The effects of technical change on employment, output, prices, and wages up and down the skill and technology ladders are sharply characterized. The effects of low-skill immigration, minimum-wage legislation, and international trade are also described.

Suggested Citation

  • Nancy L. Stokey, 2018. "Technology, Skill, and the Wage Structure," Journal of Human Capital, University of Chicago Press, vol. 12(2), pages 343-384.
    • Handle: RePEc:ucp:jhucap:doi:10.1086/697417
    DOI: 10.1086/697417
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    Cited by:

    1. Nancy Stokey, 2021. "Technology and Skill: Twin Engines of Growth," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 40, pages 12-43, April.
    2. Max Gillman, 2019. "A Human Capital Theory of Structural Transformation," CERGE-EI Working Papers wp648, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    3. Klaus Kornwachs & Nico Stehr, 2021. "Die Frage der Qualifizierung in einer digitalisierten Gesellschaft [The Question of Qualification in a Digitalised Society]," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 101(1), pages 33-39, January.

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